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PPP Forgiveness

You are here: Home / Uncategorized / PPP Forgiveness
Paycheck Protection Program PPP Loan forgiveness application form.

June 4, 2020 //  by Kyle//  Leave a Comment

As of 6/3/2020 the House and Senate both passed changes to the PPP Forgiveness criteria. There are three major changes:

  1. Now instead of 8 weeks to spend the money on qualified expenses you have 24 weeks.
  2. The new law changed the percentage that needs to be used on Payroll to 60% down from 75%.
  3. Now if you don’t spend at least 60% on payroll then none of the loan will be forgiven

Category: Uncategorized

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